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Saturday, September 25, 2021

Selecta Biosciences Inc (SELB) stock started the week with negative momentum

Selecta Biosciences Inc (SELB) stock started the first day of the week with negativity. It lost 1.55% in the normal trading session and it further lost 8.14% in the after-hours session on Monday, April 19, 2021.


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SELB shares have gained 40.07% over the last 12 months, and they have moved up by 0.26% in the past week. Over the past three months, the stock has risen 7.32%, while over the past six months, it has surged 80.57%.

Let’s have a look at its recent news

Participation in health conference

Selecta Biosciences recently participated virtually in the 20th Annual Needham Healthcare Conference which held on April 12-15, 2021.

Selecta’s Chief Executive Officer, Carsten Brunn, PhD presented the company.

Earlier it participated virtually at H.C. Wainwright Global Life Sciences Conference which held on March 9-10, 2021.

Recent financial results

On March 11, 2021, Selecta Biosciences, Inc. announced its financial results for the fourth quarter and the year ended December 31, 2020.

Q4 2020 financial highlights

  • For the Q4, revenue was $12.0 million compared to $6.7 million in Q4 2019
  • For the fourth quarter of 2020, Research and development expenses were $15.1 million compared to $15.2 million in Q4 2019.
  • For Q4 2020, general and administrative expenses were $4.8 million compared to $4.1 million in Q4 2019.
  • Selecta suffered a net loss of $15.4 million, or $0.14 per share in Q4 2020, compared to a net loss of $14.9 million, or $0.28 per share in Q4 2019.

Full-year 2020 financial highlights

  • The fiscal year 2020 revenue was $16.6 million, compared with $6.7 million for the same periods in 2019.
  • Research and development expenses for the fiscal year 2020 were $54.5 million, compared to $42.7 million for the prior year.
  • For FY 2020, general and administrative expenses were $18.9 million compared to $16.4 million in 2019.
  • Selecta suffered a net loss of $68.9 million, or $0.68 per share in FY 2020, compared to a net loss of $55.4 million, or $1.22 per share in FY 2019.
  • As of December 31, 2020, Selecta had $140.1 million in cash, cash equivalents, and restricted cash.

Commenced the first-in-human dose to evaluate ImmTOR™ in gene therapy

On February 17, 2021, Selecta Biosciences, Inc. and AsklepiosBioPharmaceutical, Inc. started the Phase 1 dose-escalation trial of SEL-399, an adeno-associated viral serotype 8 (AAV8) empty vector capsid (EMC-101) containing no DNA combined with ImmTOR™.

The trial aims to determine the optimal dose of ImmTOR to ease the formation of antibodies to AAV8 capsids used in gene therapies.

Conclusion

We are unable to find any recent news behind its negative start on Monday which continued in after-hours as well. We hope that SELB will start Tuesday with a positive mode.

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